Just finished my last trip to Thailand to visit wife's family and friends. We usually go twice a year. Did my usual trip down to the main Post Office by the coin shops where dealers set up every weekend underneath the PO in a nice inside room. Well, they have been removed from the PO now and have to set up outside on a corner with a few canvas covers to keep the sun off everyone. It's a very small crowded area now. Since the King died in October, the Treasury offices have been cleaned out of every coin, medal, etc imaginable, including the gold coins. You cannot go in and buy any now which has led to all the dealers and opportunists that bought everything to charge astronomical prices for the coins, bills, etc. For example, a 20 baht coin that you used to be able to buy at the Treasury office for 20 baht sells for maybe 400 baht depending on who you deal with. Needless to say, I only bought a couple currency bills I wanted and a few replacement 10 baht coins for my set to replace ones that were not in very good shape and figured in time it would get back to normal. That may not happen for quite some time. Besides the PO group, when we went by the main Treasury office over by Khoa San Road in Bangkok, there were several people lined up on the sidewalk outside selling all the coins, etc they had bought shortly after the King's death. We also went to another Treasury office back off the Ari BTS stop and encountered a few people in the parking lot there selling the coins. I will post several pictures of what I found just for your perusal. The PO group's setup was not very ideal because of too many people crowded around the small area. It was terribly hot and by the time we left after about 20 minutes of trying to look, take pics, get a few things, we were literally soaked in sweat. Not a place I will visit again until things calm down and it's not so crazy there. Obviously, although the Thai people are saddened by the King's death, those that were able to buy up all the coinage right away are profiting greatly. There were always many people stopping at the sellers' setups inquiring about prices or buying when we checked out the Treasury offices. We did manage to purchase some of the 3 coin sets that the Treasury offered mid-November. 3 20 baht coins that they did a special sale for that you could only buy at the Treasury, on set per person. I believe it was limited to 1,000,000 sets throughout the country. So if you are planning a trip to Thailand in the near future and want to buy coins and currency, good luck!!! It will cost you a lot more than it normally would. This first group of photos is from the PO setup of dealers that are there every weekend. View attachment 561431
Well, even though I adjusted the pictures to show the right way, some did not when I posted. But you get the idea. A few more of the PO group.
These next pictures are of the sellers by the main Treasury office and the smaller one off Ari BTS station.
I've never gotten to into Thai coins, but I have collected the commemorative banknotes as they have cool denominations and designs. I know the current monarch, he was just declared King, will likely not be nearly as popular as King Bhumidol. I have to imagine that the monarchy will probably on the wane there now.
Good time to bring my old(er) coins I've found here in the US...if I travel to Thailand? Could I make a 'killing' from coins I purchased in the US in bulk bins for 10-25 cents each?
Incredible windfall. The same situation may also occur when the now Queen Mother passes away. She is a huge stamp collector.
All coins are being sold, UNC and circulated, by people on the streets. Mostly around the treasury offices but now and then you see someone in a store along the streets selling stuff. It's just the prices are way overpriced in my mind. I just filled in a couple replacements and stopped there because of the prices.
I love the banknotes also and have quite a few graded and ungraded. But right now the prices are 3-4 times over face or higher. Many Thai people have vowed support of the new King but he certainly is not as popular as his father but he may just have to prove himself. I expect sometime down the road we will see some real nice commemorative notes for King Bhumidol and I am sure new notes issued with the new King's profile on them. I don't think he will do the official ceremony until next October so not sure when the change in notes will take place.
Very possible. They reissued some stamps while we were there and they were selling pretty fast. Stamps on the street are just as high as the coins are now. The government is not wasting any time making money off the King's death either. They have their hand in the pot, so to speak. When we were at a satellite Treasury office off Ari BTS station, they took a shipment of what looked like 25-50 boxes labeled "silver 100 each". My wife asked and was told they were silver coins destined for sale at some upcoming show in the middle of December. I didn't get to see what coins they were, but considering there is nothing available at the treasury except the 3 20 baht coin set they put out while we were there limited to one per person, I am sure these will sell quickly at whatever show they have them at. We have friends that work at the Treasury and go to different countries selling Thai coins at the shows and I am not sure how this will affect their future travel to shows for awhile. They did the ANA show in Chicago a couple years ago and usually go the the spring Germany show every year. My thought is the Thai mint will work hard at producing whatever it can to keep selling while the sales are hot until maybe sometime next year when it might slow down and prices start dropping. Of course, if the Thai mint would make lots more of the 20 baht coins that sold out days after the King's death, that might bring prices down on the street. Who knows. It's a waiting game.
